Moerus has a seasoned team who have a wealth of experience investing across the global investment landscape and a long tenure of working together, having worked with each other for over a decade investing in global markets. Moerus’ four investment professionals collectively have over 50 years of investment experience and have performed research on securities in over 50 countries.

The Moerus Worldwide Value Fund (MOWIX) is advised by Moerus Capital Management LLC (“Moerus”). Moerus is a New York-based investment management company that was formed in 2015. Having worked together for over a decade identifying, researching, analyzing, and investing in opportunities worldwide, we founded Moerus with the singular goal of doing one thing: applying what we believe is our unique style of value-oriented investing that we have developed and utilized throughout our careers.

Copyright Moerus Capital Management, 2021

Investing involves risk, including possible loss of principal. Equity securities are subject to market, economic and business risks that may cause their prices to fluctuate. Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors. Fund investments may be concentrated in a particular country geographic region, sector, industry, or group of industries, and the value of Fund shares may rise and fall more than more diversified funds. Foreign investing involves social and political instability, market illiquidity, exchange-rate fluctuation, high volatility and limited regulation risks. Emerging markets involve different and greater risks, as they are smaller, less liquid and more volatile than more developed countries. Frontier market countries generally have smaller economies and less developed capital markets than even traditional emerging markets, and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. Currency risk is the risk that the values of foreign investments may be affected by changes in the currency rates or exchange control regulations. Significant investments in cash or cash equivalents may run the risk that the value of the cash account, including interest, will not keep pace with inflation. Please see the prospectus for details of these and other risks.

Foreside Fund Services, LLC, Distributor.

Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. This and other important information about the Funds is contained in the prospectus, which can be obtained by calling 1-844-MOERUS1 or visiting http://moerusfunds.com. The prospectus should be read carefully before investing.